A Sears Canada outlet is seen Tuesday, June 13, 2017 in Saint-Eustache, Que. Sears Canada says its remaining stores will close their doors for good today. The long-time staple of Canada’s retail landscape declared bankruptcy last year and announced in the fall that it would liquidate its remaining stores and lay off thousands of employees.THE CANADIAN PRESS/Ryan Remiorz

Sears Canada closes its final stores

The long-time staple of Canada’s retail landscape declared bankruptcy last year

The few remaining Sears Canada stores closed their doors for good on Sunday.

The longtime staple of Canada’s retail landscape declared bankruptcy last year and announced in the fall that it would liquidate its remaining stores, leaving 15,000 people out of work.

Sales began in October, and only a fraction of the retailer’s locations across Canada remained open to the bitter end.

The chain’s closure sparked a number of controversies.

Related: Sears Canada shutters final stores after months-long liquidation

Sears Canada planned to dole out millions of dollars in retention bonuses to head office staff, while grappling with a more than $260-million shortfall in its pension plan.

The company originally wanted to pay a total $7.6 million to 43 top employees, but revised that to a total of $6.5 million to 36 employees after a backlash.

An Ontario judge approved the reduction, but some employees argued it was still too much money given the company was also facing a 19 per cent pension plan funding shortfall, meaning employees would likely see a similar cut to their benefits.

And a plan by executive chairman Brandon Stranzl that would see the company continue to operate was rebuffed in favour of liquidation, prompting further questions about whose interests were being prioritized.

Sears Canada’s closure follows in the footsteps of other big-box retailers in Canada, including Target and Zellers.

Related: Sears liquidation sales continue across B.C.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Smoke cancels Super League Penticton, organizers give pros a gift

Super League Penticton organizers decide to send all pro competitors to championship

Smoky skies means stay inside, according to Interior Health

The air quality in the Okanagan is considered a high risk

UPDATED: Super League organizers cancel remaining races

Smoke still remains too thick for athletes in inaugural North American triathlon

Air support grounded as fires fill the skies with smoke

Heavy smoke throughout the region thwarted efforts of BC Wildfire Saturday, as… Continue reading

Smokey skies don’t dampen spirits at Between the Lakes Pow Wow

Annual Between the Lakes Pow Wow celebrations for the children

Meet Your Farmer: Ambercott Acres

This week, a look at the permaculture Ambercott Acres farm, from Cawston, BC

Flights from Kelowna International Airport affected by wildfire smoke

Passengers are being asked to check their flight’s status before arriving

Work continues on Monashee Complex wildfires

Crews will be assisted by helicopters if flying conditions improve

Fast food chains look to capitalize on vegetarian, vegan trend with new items

Seven per cent of Canadians consider themselves vegetarians and 2.3 per cent identify as vegans

Gottfriedsen Mountain wildfire continues to be held

Firefighters are working alongside the military to extinguish the wildfire near West Kelowna

B.C. swimmer halts journey across Strait of Juan de Fuca after hypothermia sets in

Victoria MS athlete Susan Simmons swam for eight-and-a-half hours in 9 C choppy waters

‘Hard on water:’ Smoke not the only long-range effect of wildfires

The project began more than 10 years ago after southern Alberta’s 2003 Lost Creek fire

B.C. VIEWS: Genuine aboriginal rights can be misused and discredited

Camp Cloud one of long line of protests falsely asserting title

Most Read